VERMEG Consolidates Its Position as a Global Force in Regulatory Reporting

VERMEG the banking and insurance software solutions leader, has announced strong progress following its acquisition of Lombard Risk, with its regulatory business signing more than 30 new customers in 2018.

VERMEG now has over 300 regulatory reporting customers, underlying its leading position in the market and making 2018 a record year for the business. Lombard Risk fully transitioned to the VERMEG brand in all of its operating countries from October 1st 2018, giving additional scale, enhanced technical capability and geographical strength to the already strong VERMEG portfolio.

Badreddine Ouali, Chairman and CEO, VERMEG, said: "VERMEG acquired Lombard Risk as part of its long-standing strategy to develop its business in the risk & compliance area, which we have seen significantly enhance the business in terms of geography, capability and scale. We spent time working to identify the best business to acquire in order to complement our existing footprint and to add technical regulatory reporting strength to our strategic solutions portfolio.

"I am thrilled that we have overachieved on our ambitions to grow our footprint in regulatory reporting with a record year for this business. As well as acquiring more than 30 new clients in the regulatory reporting space, we have also seen more than 40 existing customers committing to new strategic long-term relationships with us and secured new service partner relationships with premier audit and advisory firms and delivered an extension of our offering in CLOUD and BPO."

About VERMEG:

VERMEG is a specialised software house covering three main market segments in financial services: Banking, Wealth and Asset Management and Insurance.

Our business solutions are designed to address the challenges linked to the transformation of the financial services industry. As information system architects, we ensure our clients can achieve cost reductions and Time-To-Market control in the modernisation of their information systems.

In addition to offering standard software solutions that meet evolving digitised needs, VERMEG provides tailor-made solutions based on our own tools, project and business expertise.

VERMEG has over 1100 employees, with presence in Australia, Belgium, China, UK, France, Germany, Japan, Hong Kong, Luxembourg, Netherlands, Singapore, South Africa, Spain, Tunisia and United States. The company supports more than 500 clients in 40 countries.